HF1965 (Legislative Session 94 (2025-2026))
Small business assistance partnership program funding provided.
Related bill: SF1521
AI Generated Summary
Purpose of the Bill
The purpose of this bill is to provide funding for the Small Business Assistance Partnerships Program in Minnesota. This program is designed to support small businesses through partnerships.
Main Provisions
- The bill allocates $6,425,000 for fiscal year 2026 and another $6,425,000 for fiscal year 2027.
- These funds are to be appropriated from the general fund and given to the commissioner of employment and economic development.
- All grant awards provided under this program will cover two consecutive years, with grants given out in the first year of the appropriation.
- Up to five percent of the total appropriation can be used by the department for administrative purposes.
Significant Changes
- The bill introduces a one-time funding allocation specifically focused on small business assistance, which is tied to the existing statutes governing economic development.
Relevant Terms
small business assistance, economic development, grant awards, general fund, administrative purposes, employment commissioner.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 05, 2025 | House | Floor | Action | Introduction and first reading, referred to | Workforce, Labor, and Economic Development Finance and Policy |
| March 10, 2025 | House | Floor | Action | Author added | |
| March 26, 2025 | House | Floor | Action | Author added |
Citations
[
{
"analysis": {
"added": [
"Specified funding amounts for fiscal years 2026 and 2027."
],
"removed": [],
"summary": "This bill appropriates funding for the small business assistance partnerships program under section 116J.682.",
"modified": []
},
"citation": "116J.682"
}
]